The fixture announcement by the International Cricket Council (ICC) has created an unprecedented demand among cricket fans, resulting in inflated prices as spectators flock to the Narendra Modi Stadium to witness the clash between the arch-rivals.
Sharp Increase in Hotel Room Rates
Following the release of the ODI World Cup fixtures, hotel room rates in Ahmedabad experienced a significant spike, with prices skyrocketing to as much as ₹1 lakh for that particular day. Booking websites displayed a remarkable surge in room tariffs, driven by the exceptional demand generated by the highly anticipated match.
The room rentals surged nearly tenfold, with luxury hotels charging as much as ₹40,000 for an average room, and some establishments quoting prices as high as ₹1 lakh. This surge in demand caused the usual room rates, which ranged from ₹5,000 to ₹8,000, to escalate to exorbitant levels.
Examples of Price Surge
Various hotels in Ahmedabad witnessed substantial price hikes for October 15. For instance, the Welcome Hotel by ITC Hotels, which typically charges ₹5,699 for a deluxe room, priced the same room at ₹71,999 on the match day. The Renaissance Ahmedabad Hotel on SG Highway experienced a surge of ₹90,679 for October 15, compared to approximately ₹8,000 on any other day.
Similar trends were observed at Pride Plaza Hotel on SG Highway, Cama Hotel on Sabarmati Riverfront, and other establishments, where prices surged to nearly ₹30,000, considerably higher than their usual rates.
Five-star hotels such as ITC Narmada, Courtyard by Marriott, Hyatt, and Taj Skyline Ahmedabad reported full occupancy on the match day, as indicated by booking portals.
The surge in prices primarily resulted from bookings made by Non-Resident Indians (NRIs) and fans from other states, creating a scenario where hoteliers could capitalize on the high demand and ensure maximum occupancy despite the increased rates.
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According to officials from the Gujarat Hotels and Restaurants Association (HRA), the current price surge is temporary, driven by the expectation of high demand.
They anticipate that once the demand subsides, prices will gradually return to normal levels. Budget hotels in the city have not experienced a similar surge in rates, as they cater to a different segment of the market.